Thursday, February 2, 2017

CaixaBank profit 1,047 million in 2016 – Jornal de Negócios – Portugal

The CaixaBank, the largest shareholder of BPI, profited from 1,047 million euros in the last year, an increase of 28.6% compared to the same period last year. This growth reflected the increase in the contribution of investees, such as the BPI, the reduction of costs and, especially, the decrease of impairment for non-performing loans.

The banking product remained stable in 7.827 million euros and not only fell due to the rise of the results from the subsidiaries, which reported a 43% to 828 million. For this evolution has been important to the contribution of the BPI, which, in net terms, has generated 140 million to the profits of CaixaBank, or to be assured of 13.5% of the results, as against 13% in the previous year, considering a stake of 45%.

The growth of the results of the subsidiaries annulled the negative impact of the reduction of the financial margin – less 4.5% to 4.157 million – and net income net commissions, which decreased by 1.2% to 2.090 million euros.

operating costs recurring fell 1.7%, to 3.995 million, but this item has been penalized by an increase of 77% of extraordinary expenses, for a total of 121 million.

Was the reduction of the impairment for credit, which fell by 57.5% for 1.069 million, which contributed most to the increase of the results of the CaixaBank.

a Journalist in Barcelona at the invitation of the CaixaBank


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